Clearbridge Investments LLC Acquires Shares of 292,948 Sun Life Financial Inc. (NYSE:SLF)

Clearbridge Investments LLC purchased a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 292,948 shares of the financial services provider’s stock, valued at approximately $15,192,000. Clearbridge Investments LLC owned approximately 0.05% of Sun Life Financial as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SLF. Intrust Bank NA raised its stake in Sun Life Financial by 5.4% during the 4th quarter. Intrust Bank NA now owns 4,450 shares of the financial services provider’s stock valued at $231,000 after buying an additional 226 shares during the last quarter. First Affirmative Financial Network increased its position in shares of Sun Life Financial by 6.4% during the fourth quarter. First Affirmative Financial Network now owns 5,270 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 318 shares during the period. Advisory Resource Group increased its holdings in Sun Life Financial by 2.4% during the fourth quarter. Advisory Resource Group now owns 13,792 shares of the financial services provider’s stock valued at $715,000 after buying an additional 329 shares during the period. Signaturefd LLC increased its holdings in Sun Life Financial by 1.9% during the fourth quarter. Signaturefd LLC now owns 22,365 shares of the financial services provider’s stock valued at $1,160,000 after buying an additional 414 shares during the period. Finally, Avantax Advisory Services Inc. boosted its stake in Sun Life Financial by 3.2% in the third quarter. Avantax Advisory Services Inc. now owns 13,767 shares of the financial services provider’s stock valued at $672,000 after acquiring an additional 424 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Up 1.4 %

Sun Life Financial stock traded up $0.72 during mid-day trading on Friday, reaching $51.05. 3,990,034 shares of the company’s stock were exchanged, compared to its average volume of 861,613. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $55.46. The company has a fifty day moving average of $52.35 and a 200-day moving average of $51.96. The company has a market cap of $29.67 billion, a P/E ratio of 13.06, a P/E/G ratio of 1.29 and a beta of 1.00.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, May 29th will be given a dividend of $0.588 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.58. This represents a $2.35 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Wednesday, May 29th. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.34%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group initiated coverage on shares of Sun Life Financial in a research report on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.